Trim credit union members approve merger proposal

Members of Trim Credit Union have voted in favour of merging with Drogheda Credit Union Ltd.
At a well-attended special general meeting held last night in Scoil Mhuire, Trim, members gave their approval to the merger proposal that would see the transfer the engagements of St Loman’s Trim Credit Union Ltd into Drogheda Credit Union Ltd.
The merger proposal must now be approved by Drogheda Credit Union members.
A similar special general meeting of Drogheda Credit Union takes place in the Westcourt Hotel, Drogheda, at 7.30pm tonight where members will be asked for their approval of the merger with Trim Credit Union.
Trim Credit Union has thanked all the members who attended in great numbers and supported them at the SGM.
If Drogheda members vote in favour of the merger, it will create the largest credit union in the north-east with assets of €210m and 50,000 members.
Trim members will gain access to all of the services that Drogheda Credit Union Limited can offer, including the provision of low-cost loans and the provision of competitive dividends.
In a statement, St Loman’s Trim Credit Union said the proposed transfer arises from the belief of the directors of both credit unions that their members can be better served together.
“We consider it an ideal opportunity to grow and develop our services to members locally. The board believes this proposed merger of two very strong credit unions would strengthen our position to be the most trusted, respected, and preferred financial services provider for our members.”
If the merger is approved and completed, all members of St Loman’s Trim Credit Union Ltd will automatically become members of Drogheda Credit Union Ltd.
The Trim office will remain open and it will be business usual for members and staff alike. Members will also be able to transact their business at the other two offices - in Drogheda and Bettystown - if convenient for them to do so, when the transfer takes effect.
Earlier this year, East Meath Credit Union in Bettystown merged with Drogheda Credit Union.